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"Buyer beware" (??)

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Ed Valentine View Drop Down
Carpet Cleaning Specialist
Carpet Cleaning Specialist


Joined: 14/September/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ed Valentine Quote  Post ReplyReply Direct Link To This Post Topic: "Buyer beware" (??)
    Posted: 21/February/2005 at 2:08pm

It always amazes me whenever I see anyone selling their "used" equipment on the interent, either through the boards or elsewhere.  I don't care what model or brand of equipment it is either, it always (with few exceptions) seems to be the same thing:

"Hardly used", only a few times....etc.....etc.....

 

What gets me is that some of this equipment is 4 years old, for example ("hardly used") but only used about 10-12 times. Even I have had a hard time not laughing or placing a follow-up comment on certain Individuals whom have stated these comments.

Or, a machine will be "used" (2-3 times around for example) but in "good condition"-------------and many components aren't origional; changed with inferior parts, a vac motor doesn't work, etc.....etc.....------------and they will advertise it at only $400.00 (US). 

What gets me here is the response from people on the boards like: "Wow-thats a great price"; "ya, I'd go for it"; "Pretty cheap for a %$#@ brand model, buy it"!!!!

What I am getting at is simply, "BUYER BEWARE"!   Never forget that a large majority (yes, there may be a few exceptions) of people selling "Used" equipment really are inferring that it is "USED UP" instead. I have found that most equipment in this Industry is designed to do hard work. And, therefore, many are truely USED up in the end.

 

BUYER BEWARE.

That has been my experience, gentlemen. bet, even Ted would agree with me on this one.

Good Fortune to all;

Ed Valentine

cross-american corp.

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MR. STEAMER View Drop Down
True Patriot
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Joined: 03/March/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MR. STEAMER Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 2:22pm

it's a chance we all have to take....lol some times the pocket not the product that makes a sale...

pay now or pay later I always say... but still you can't hang your hat higher than you can reach it

www.mr-steamer.com
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Rick/Magic View Drop Down
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Joined: 16/February/2005
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rick/Magic Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 5:27pm
I find it cheaper to just buy new...but some people never learn...I finally did...my accountant is the one who talked me into selling off my used equipment and buying new...and he was right
25 years of cleaning carpet
and my back hurts
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MR. STEAMER View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MR. STEAMER Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 6:30pm

well you can only write off used equipment so much until it's worthless on the books... you'll save with new..

but I always say you'll go broke saving money

www.mr-steamer.com
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John L View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John L Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 10:39pm

I Concur that Ed. New is the smartest business investment you can make. You WILL make your money back.

Best, JL

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MR. STEAMER View Drop Down
True Patriot
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MR. STEAMER Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 11:04pm
sometimes even new gives trouble
www.mr-steamer.com
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John L View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John L Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2005 at 11:46pm
All machinery does sooner or later.
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Rick/Magic View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rick/Magic Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2005 at 8:36am
anything made by man will break down...
25 years of cleaning carpet
and my back hurts
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nightrider View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nightrider Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2005 at 3:05pm

Steamer that not exactly true, you can register the truckmount on someone else's name and then you can make invoices that you leased it from that person, then it is completely deductable forever at whatever price you like. $,500.00 /week is not unreasonable, and he does not have to include any taxes on the invoice and shoudln't

                                       nightrider

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doug View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote doug Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2005 at 3:15pm
A lease has to have a beggining and an end.  There has to be a buy out of some sort.  If to low is will not be considered a lease. Now you can rent the equipment but applicable taxes must be shown.Guitar
Just My opinion
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MR. STEAMER View Drop Down
True Patriot
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MR. STEAMER Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2005 at 3:19pm
Originally posted by nightrider nightrider wrote:

Steamer that not exactly true, you can register the truckmount on someone else's name and then you can make invoices that you leased it from that person, then it is completely deductable forever at whatever price you like. $,500.00 /week is not unreasonable, and he does not have to include any taxes on the invoice and shoudln't

                                       nightrider

What I'm talking about nightrider is depreciation... equipment can only depreciate for so long before it becomes useless and no longer can be written off.
www.mr-steamer.com
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nightrider View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nightrider Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2005 at 11:37pm

Doug and Steamer, you are both missing the point, I can lease you a 1929 imaginary truckmount for 500.00 dollars a day if you like, the government will take it as a rental and is a fair expense. I do not have to charge you taxes as long as I don't invoice over 30,000 dollars per year income less all expenses, my overhead etc etc. I thought you were talking as a deduction for tax purposes, maybe I read it all wrong.

                               nightrider

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MR. STEAMER View Drop Down
True Patriot
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MR. STEAMER Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2005 at 9:38am

Yes tax deduction... I love to see what would happen to you during an audit...lol

nightrider you have never been audited before have you..lol

www.mr-steamer.com
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Superglide Ken View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Superglide Ken Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2005 at 11:25am
Tax must be paid in the hands of the one doing the renting of the equipment. As long as the rental rate is reasonable in relation to fair market value, and income is being earned from it's use by the renter, it is a deductable expense. This is why, with the exception of vehicles, which I do lease, my equipment in the business is set up as a rental and rented to my company. Complete deduction against income, and great income splitting device to pay the least taxes by redistribution of income.
Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs.
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